FSCO's Performance Standards detail the approach used in delivering on FSCO's mandate and priorities through linkages between performance measures and the attainment of long-term outcomes. The measures are used to gauge the success of short-to-medium term activities against long-term targets.
FSCO's Performance Management Framework Size: 517kb
ensures that we provide greater transparency, accountability and value-for-money, that we measure what we do and focus on results that matter, and, that we define success and deliver on our outcomes. The service standards below are a component of FSCO's Performance Management Framework.
As part of its commitment to high quality, cost effective services to its customers, FSCO will strive to achieve the service standards listed below.
The service standards have been developed in consultation with affected stakeholders. We will monitor our performance regularly against these standards and report results annually.
FSCO is developing standards in phases. In the first phase (Phase 1) service standards were developed for Complaints, both Sectoral (complaints regarding one of FSCO’s regulated sectors) and Quality Service Complaints, Written Correspondence, Life Agent Licensing, and Defined Benefit Plan Registrations and Applications.
Our results for the services identified in Phase 1 will be for the period from October 3, 2011 – March 30, 2012 (Performance Results 2011). As some of the service standards span over a longer period of time, statistics may not be immediately available.
In Phase 2, FSCO developed service standards for Automobile Insurer Rate filings, Examinations (all sectors), and Website Response/Content Accessibility. The results for these services will be available beginning in April 2013.
New standards will be added as they are developed.
Applications for Private Passenger Automobile Insurance Rate and Risk Classification Filings
FSCO reviews and approves complete applications (filings) for changes to automobile insurance rates and risk classification systems (RCS).
The timing for the review and approval of an application depends upon a number of factors:
- the complexity of the application such as changes to existing RCS elements definitions and differentials, new RCS elements, and new modeling techniques;
- the number of information requests or need for clarification of information received in the application;
- modifications to the application from that originally submitted; and
- the number of applications that FSCO is dealing with at any given time.
The following service standards have been developed:
Simplified – changes proposed are in accordance with Simplified Filing Guidelines and CLEAR Simplified Filing Guidelines
90% will be reviewed and approved within 30 days
Standard – changes proposed consists of base rate changes uniform by territory and anniversary rate capping filings
90% will be reviewed and approved within 45 days
Comprehensive – changes proposed include non-uniform base rate changes, changes to differentials and risk classification system changes using company existing modeling techniques
90% will be reviewed and approved within 60 days
Complex – changes proposed consists of introduction of predictive modeling
90% will be reviewed and approved within 90 days
These standards are from the date that FSCO receives an application that is complete based on the documentation requirements set out in the FSCO filing guidelines. These standards do not include “timeouts”. These are the times or the number of days when FSCO has limited or no control over the processing of the application. The following examples are considered “timeout” periods:
- The number of days between the date FSCO sends technical questions or requests the insurer to provide additional information to clarify material in the application and the date on which the company provides a complete and satisfactory response.
- The number of days between the date a filing is returned to the company by FSCO through ARCTICS and the date which the filing is re-submitted.
- The number of days between the date a company has been notified by FSCO of the differences in actuarial analysis and the date the company re-submits revisions to the proposed rate level changes, as required.
- 95% final examination reports to be issued within 30 business days of the completion of routine onsite examination.
- All inquiries directed to the Web Manager e-mail account will be concluded and/ or responded to within five business days.
- FSCO will respond within five days to a requestor of web content in accessible format. Following discussions with the requestor, FSCO will provide agreed-upon web content (excluding online applications), in an accessible format within 5 business days.
- FSCO will respond within five days to a requestor of print publications in an accessible format. Following discussions with the requestor, FSCO will provide agreed-upon publication material in an accessible format within 5 business days.
The Government of Ontario has a set of Common Service Standards for telephone, correspondence and in-person locations which FSCO adheres to.
Common Service Standards - Performance Results 2011:
An annual internal telephone audit is conducted to measure FSCO’s performance against the Common Service Standards. FSCO’s performance results against two key telephone service standards are reported below:
- 88% of calls received always had the option of reaching a person.
- 82% of voicemail messages received were returned within 24 hours.
- All correspondence will be answered within 15 business days of receipt.
- If a conclusive response is not possible within the standard time, an interim acknowledgement will be provided within 5 business days of receipt.
Correspondence Standards - Performance Results 2011:
- 100% of general correspondence received was answered within 15 business days
- 92% of general correspondence received was acknowledged within 5 business days of receipt, as per the above interim acknowledgement standard.
For Quality Service complaints regarding the manner in which FSCO provides its services, including whether they were provided in an accessible manner:
- Complaints received in writing or through our website will be acknowledged within 5 business days*
- Complaints received in person or by telephone will be acknowledged within 2 business days*
- Complaints will be concluded within 15 business days
Quality Service Complaints - Performance Results 2011:
- 78% of complaints received in writing or through our website were acknowledged within 5 business days.
- No complaints needed to be acknowledged within 2 business days either by telephone or in person.
- 72% of complaints were concluded within 15 business days.
* where a reply is requested and contact information for the complainant has been provided.
For Sectoral complaints regarding one of the sectors that FSCO regulates:
- Complaints will be acknowledged within 5 business days
- 90% of all complaints will be concluded within 150 days
- 98% of all complaints will be concluded within 365 days
Sectoral Complaints - Performance Results 2011:
Performance results for sectoral complaints will be available in April 2013.
Applications for Insurance Agent Licences
FSCO will review and approve complete applications that meet all suitability requirements for obtaining a licence in accordance with the following service standard.
|New & renewal Insurance Agent Licences
*This standard does not apply to paper applications or applications that use a cheque as a method of payment for a licence. Longer processing time is required for these types of applications.
To apply for an insurance agent licence, please visit the main portal of Licensing Link, FSCO's online licensing system.
Applications for Insurance Agent Licences - Performance Results 2011:
- 96% of Insurance Agent licence applications received were reviewed and approved within 5 business days.
Applications for Defined Benefit Pension Plans
FSCO will review and approve complete and compliant Defined Benefit Pension Applications in accordance with the following service standards. More information regarding the Defined Benefit Application Process is available in the Pension section of our website.
|Transfer of assets
|Refund of employer overpayment
|Refund of member contributions
Applications for Defined Benefit Pension Plans - Performance Results 2011/2012:
- No complete and compliant surplus applications were received during the reporting period.
- 100% of the complete and compliant wind up applications received were reviewed and approved within 120 business days.
- 100% of the complete and compliant transfer of assets applications received were reviewed and approved within 120 business days.
- No complete and compliant refund of employer overpayments applications were received during the reporting period.
- 100% of the complete and compliant refund of member contributions applications received were reviewed and approved within 60 business days.